Manoj Vaibhav Gems N Jewellers shares make flat debut at Dalal Street

Manoj Vaibhav Gems N Jewellers share price NSE, BSE: Shares of Manoj Vaibhav Gems N Jewellers made a flat debut at Dalal Street today i.e. October 3. The regional jewellery brand was listed on the bourses at its issue price of Rs 215 on the Bombay Stock Exchange (BSE). It was listed at a similar price on the National Stock Exchange (NSE).

However, the share jumped over 3 per cent to hit a high of Rs 221.90 on the BSE. At the NSE, it climbed 3.25 per cent to Rs 222. Last seen, the share was trading at Rs 216.35. The company commanded a market valuation of Rs 1,062.43 crore.

Earlier, the Initial Public Offering (IPO) of Manoj Vaibhav Gems N Jewellers was subscribed 2.25 times on the last day of subscription on Tuesday. The initial share sale got bids for 2,05,05,627 shares against 91,20,664 shares on offer, as per NSE data.

The initial share sale had a fresh issue of up to Rs 210 crore and an offer for sale of up to 2,800,000 equity shares. The price range for the offer was at Rs 204-215 per share. The company, a regional jewellery brand in South India, has a presence in Andhra Pradesh and Telangana, with 13 showrooms across eight towns and two cities. The funds raised will be utilised for opening eight new showrooms, inventory for these stores and general corporate purposes.

Meanwhile, shares of JSW Infrastructure, a part of the JSW Group, made a strong debut on Dalal Street today i.e. on October 3. The shares were listed at Rs 143, a premium of over 20 per cent over the IPO issue price of Rs 119, on the Bombay Stock Exchange (BSE). The shares were listed at the same price, i.e. Rs 143, on the National Stock Exchange (NSE). 

However, shares later went on to touch the high of Rs 157.30 - a jump of 10 per cent from the opening price of Rs 143 - on the BSE. Last seen, it was trading at Rs 156.30 on the BSE and Rs 155 on the NSE.